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Comparing Search and Intermediation Frictions Across Markets
Pinter, Gabor; Uslu, Semih - 2022
In intermediated markets, trading takes time and intermediaries extract rents. We estimate a structural search-and-bargaining model to quantify these trading delays, intermediaries’ ability to extract rents, and the resulting welfare losses in government and corporate bond markets. Using...
Persistent link: https://www.econbiz.de/10013292830
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Heterogeneity in decentralized asset markets
Hugonnier, Julien; Lester, Benjamin; Weill, Pierre-Olivier - 2014
, including the relationships between the length of the intermediation chains through which assets are reallocated, the network …
Persistent link: https://www.econbiz.de/10011293789
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An empirical equilibrium model of a decentralized asset market
Gavazza, Alessandro - 2015
Persistent link: https://www.econbiz.de/10010533052
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An Empirical Equilibrium Model of a Decentralized Asset Market
Gavazza, Alessandro - 2015
I estimate a search-and-bargaining model of a decentralized market to quantify the effects of trading frictions on asset allocations, asset prices and welfare, and to quantify the effects of intermediaries that facilitate trade. Using business-aircraft data, I find that, relative to the...
Persistent link: https://www.econbiz.de/10013038849
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Comparing search and intermediation frictions across markets
Pintér, Gábor; Üslü, Semih - 2022
Persistent link: https://www.econbiz.de/10013199502
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An empirical equilibrium model of a decentralized asset market
Gavazza, Alessandro - In: Econometrica : journal of the Econometric Society, an … 84 (2016) 5, pp. 1755-1798
Persistent link: https://www.econbiz.de/10011741991
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Marketmaking middlemen
Gautier, Pieter; Hu, Bo; Watanabe, Makoto - 2016
This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode …. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a … other. In our model, buyers and sellers can simultaneously search in an outside market and use the intermediation service …
Persistent link: https://www.econbiz.de/10011517977
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Marketmaking Middlemen
Gautier, Pieter A. - 2016
This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode …. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a … other. In our model, buyers and sellers can simultaneously search in an outside market and use the intermediation service …
Persistent link: https://www.econbiz.de/10012982510
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More on middlemen : equilibrium entry and efficiency in intermediated markets
Nosal, Ed; Wong, Yuet-Yee; Wright, Randall D. - In: Journal of money, credit and banking : JMCB 47 (2015), pp. 7-37
Persistent link: https://www.econbiz.de/10011345069
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Directed Search on a platform: meet fewer to match more
Wang, Chengsi; Watanabe, Makoto - 2021
Persistent link: https://www.econbiz.de/10012544636